New York hedge fund Cinctive Capital Management appointed macro investing veteran and former Millennium portfolio manager Giles Coppel as its macro chief investment officer as the firm expands its macro platform with several other senior hires.
Coppell focused on global macro strategy at Millennium and prior to that managed his own firm Phillimore Investments. Prior to Phillimore he was at Brevan Howard USA as a partner and head of trading. Coppel also held roles as a portfolio manager at Tudor and as partner and portfolio manager at Brevan Howard in London, officials said in an announcement.
Other senior hires were announced: Raymond Wang, portfolio manager – macro rates trading and global relative value; Mitch Nadel, portfolio manager – rates; and Rak Natrajan, execution trader.
Wang joins from DV Trading Group, where he was a member and portfolio manager. Prior to that though he was a portfolio manager at BlueCrest Capital Management, joining the firm from RBC Capital Markets where he was an executive director at the government bond trading desk.
Nadel had been head of America’s macro trading at MUFG Securities. Previously, he spent a decade at Morgan Stanley in senior roles across several fixed income trading desks, including as head of Americas Macro Trading.
Most recently, Natrajan was in FX options and EMFX trading roles at BNY Mellon. Before that, he worked in risk and trading roles at Autonomy Capital for three years.
“As Cinctive continues to expand its platform, we are excited to bring Giles on to build out our macro capabilities,” said Rich Schimel, co-founder and co-chief investment officer of Cinctive. “Our goal is to create a differentiated multi-manager platform that will benefit our investors, and we feel strongly that Giles’ experience both as an investor and as an operator will be instrumental in the launch of our dedicated macro strategy.”
Cinctive’s macro unit will include FX, G20 rates, relative value, volatility, and commodities related strategies.
Cinctive also announced the appointment of Greg Kaldor as macro strategist. Kaldor has worked with Coppel over the course of his career. Most recently he was a strategist with Millennium, but prior to that, Kaldor ran macro strategy at Coppell’s Phillimore Investments. Before that he held various senior trading, strategy and sales roles at Bank of America Merrill Lynch in New York and London.
“Given our robust infrastructure and my and Rich’s previous experience in macro strategies, it’s a natural evolution for Cinctive to add complementary strategies to our platform. Having the opportunity to add Giles to our team will lend to us building a first-class macro business,” said Larry Sapanski, co-founder and co-chief investment officer of Cinctive. “Rich and I started our careers in fixed income and ran a macro strategy at Diamondback and we understand the value this dedicated strategy offers investors. We also appreciate the synergy that additional research, shared insights and internal dialogue between the macro and equities teams will have on our overall investment capabilities.”
Cinctive has grown to over $1 billion in assets and formed a strategic partnership with the Employees Retirement System of Texas and PAAMCO Launchpad in 2020.
“We are excited to see this latest development with Cinctive. We believe this opportunity reflects the benefits in building early partnerships and relationships with our emerging manager program,” said Panayiotis Lambropoulos, portfolio manager – hedge funds at the Texas retirement system.
